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HONG KONG, Oct 18: Asian stocks closed mixed on Thursday with a technical rebound in some markets helping to limit extended losses elsewhere in response to concerns over the state of the global economy.
An easing in record crude oil prices and gains in the tech sector on Wall Street, where the broader market also closed mixed, helped lift some of the region’s benchmarks after two days in the doldrums.
But gains were unconvincing with investors starting to focus on a spate of profit results due to be released from around the region before gauging a clearer picture of the economic landscape.
Tokyo provided a bright spot with the benchmark up 0.78 per cent on bargain hunting, Taipei rose 0.78 per cent, Sydney advanced 1.3 percent, Seoul was up 1.1 per cent and Manila was 0.3 per cent higher.
Hong Kong gained 0.6 per cent after reports said talks were in place to allow private investors on the mainland to buy into the Hong Kong market which also resulted in Shanghai tumbling 3.5 percent.
Mumbai slumped 3.83 per cent on proposed curbs to derivatives trades, Wellington was off 0.20 percent, Singapore shed 0.78 percent and Bangkok was down 0.88 per cent. Jakarta and Kuala Lumpur closed little changed.
TOKYO: Japanese share prices bounced off a two-week low as bargain hunters emerged despite continued nervousness about the health of the global economy.
Dealers said the benchmark Nikkei index regained the
key 17,000 points level but that traders were keeping a close watch on soaring oil prices
and the state of the US
economy after a mixed batch of economic indicators.
The Nikkei-225 index gained 150.78 points to 17,106.09. Turnover dropped to 1.75 billion shares from 2.31 billion on Wednesday.
HONG KONG: Share prices closed higher, up 0.6 per cent, with gains limited by profit-taking after trading on the main index jumped above 30,000 points for the first time.
The Hang Seng Index gained 166.34 points to 29,465.05. Turnover was 168.52 billion Hong Kong dollars (21.73 billion US).
Media reports cited Tu Guangshao, vice chairman of the China Securities Regulatory Commission, as saying that mainland and Hong Kong regulators have had discussions regarding possible A and H-share swaps.
SYDNEY: Australian share prices closed up 1.3 per cent, led by gains in big banks and resources giants with market leader BHP Billiton closing at a new record.
The S&P/ASX 200 gained 87.6 points to 6,767.7. A total of 1.97 billion shares worth around 5.9 billion dollars (5.3 billion US) changed hands.
Trading was much better than expected, even after we started to see some of the negative effects of a rising Aussie dollar come through, with Woodside reporting a 16 percent fall in revenue on a modest change in volumes, said Richard Morrow, a director of EC & L Baillieu.
SINGAPORE: Share prices closed 0.78 per cent lower as investors chose to lock in profits made from recent sharp gains.
The Straits Times Index closed down 30.04 points at 3,809.69 on volume of 2.80 billion shares worth 2.72 billion dollars (1.86 billion US).
KUALA LUMPUR: Malaysian share prices closed marginally higher on a lack of follow-through buying as investors decided to cash in on earlier gains in line with the region’s performance.
The Kuala Lumpur Composite Index rose 1.93 points to 1,376.32, on volume of 1.75 billion shares worth 2 billion ringgit (594 million dollars).
JAKARTA: Indonesian share prices closed 0.9 per cent lower, snapping a seven-day rally as investors took profits in stocks that had become expensive.
Dealers said the decline in the main index was partly capped by gains in mining and select palm plantation stocks amid a bullish view on commodity prices.
The composite index closed down 24.85 points at 2,616.74. Volume was 5.9 billion shares worth 8.2 trillion rupiah (901.10 million dollars).
WELLINGTON: New Zealand share prices closed 0.20 per cent lower amid a lack of corporate news on two prominent takeover targets.
The market is waiting for some further information on the M and A (mergers and acquisitions) activity on Auckland Airport and Sky City, so elsewhere everything’s pretty much on hold until we get a bit more detail there, Grant Williamson, of Hamilton Hindin Greene, said.
MUMBAI: Indian share prices closed 3.83 per cent lower over continuing concern about a regulatory proposal to restrict purchases by foreign investors.
The Sensex index in Mumbai fell 717.43 points to 17,998.39.
Nervousness was apparent after Wednesday’s plunge. We expect further volatility until clarity comes on the participatory notes issue, said Pashupati Advani, of Mumbai-based Advani Share Brokers.—AFP
